Buffalo, N.Y., For this year’s back-to-school season, the most money spent will be for college students. College buying is expected to rise 34% from last year to $34 billion. Meanwhile, traditional school spending is expected to fall 8% to $13 billion. Analysts attribute the increase in college spending to increased purchases of electronics and dorm furnishings. The National Retail Federation (NRF) predicts total spending for college students to be $48 billion by the end of September.
The NRF predicts an average of $513 will be spent on each student in the Northeast. That number is up $78 from last year. Spending on college students, however, is expected to be $814 per student, up $133 from last year.
The traditional back-to-school season lasted from the end of July to early September. During the last three years, however, the NRF has been tracking shopping from late August to mid-September.